so i want to look at goldman here welltive to the s&p. the s&p is outperforming hyg by a great margin. so what my eyes sees is this and you can draw your lines like that with a break in trend by all accounts, no way to characterize it and a throwback right to the trend line and starting to struggle. you can also draw it with your head and shoulders top. to my eye we have a risk of breaking here, we close at 176 and go to about 160. that would imply about a 7 to 9% move depending on where you get your tradeoff. >> all right. worth a look. mike, what is your take? what is your trade. >> so looking at it fundamentally if all you did is look at their earnings it doesn't look that bad. 17.50 a share. it's one times book value which is not expensive for the financials but it is more expensive than the other stocks. so one of the things that everybody has said that's really bullish about financials is that the rate hike situation would be bullish for them. the problem is we're not expecting really strong rate hikes. if the market is starting to

think lakes have really been under appreciated in the carbon budget just because total surface area welltivens and forests, they are not huge. but the rates at which they are processing carbon is far, far faster than say the open ocean. >> as oceans become more acidic, they soak up less carbon. environmental activists say this is exactly the kind of science that should transform our approach to the world's carbon problem. >> we need good applied science to figure out how we actually achieve this. if we can use the applied science to set out what we need to achieve, we can hand over to the economists and social scientists to figure out the detail of how we get there. >> reporter: so far governments aren't doing much with this research, but there is excitement building over how it might be applied. and the salt lakes of the north american prairies could be part of the solution. daniel lak, al jazeera. >>> refugees in a town in western germany have been banned from buying and setting off fireworks to mark the new year. the authorities are worried about the possible fire risk in refugees shelter